Household appliance manufacturer for sale after parent company fails

The future of leading household appliance manufacturer Polar is in doubt and largely depends on the fate of its failing controlling investor, French-based Moulinex-Brandt. Nineteen companies are interested in buying the bankrupt Moulinex-Brandt. "There is great interest in our company," Polar chairman Zbigniew Szczypinski said. "Polar might be sold jointly with the whole group or separately. Five to seven of the 19 offers are serious and concern the purchase of the whole group or a significant part. A short list [of potential buyers] will be created by the end of November." He added that several potential investors are investigating the Polish division. In the third quarter, the company's revenues amounted to zl.116 million, with zl.9.1 million in operational loss and zl.12.3 million in net loss. Total net loss so far this year amounts to zl.61 million. (Parkiet, p. 3) M.T.